(1) Before designating a credit reference agency or revoking the designation of a credit reference agency, the Treasury may consult -

(a) the company incorporated as a private company limited by shares on 18th July 2013 with the company number 08616013 and re-registered as a public company limited by shares on 29th October 2013 with the name British Business Bank plc;

(b) a subsidiary of the company referred to in sub-paragraph (a); or

(c) any other person they consider appropriate.

(2) In considering whether to designate a credit reference agency or to revoke the designation of a credit reference agency, the Treasury may rely on advice or information provided in response to consultation under paragraph (1).